Homework Answers
Amount accumulated after 7
years=-FV(D502,D501,D500)
Amount of Monthly
withdrawal=-PMT(D502,D503,D504)
I hope my efforts will be fruitful to you....?
Add Answer to:
Holly wants to deposit $470 at the end of each month into an investment account. At...
Sophie wants to deposit $440 at the end of each month into an investment account. At...
Sophie wants to deposit $440 at the end of each month into an investment account. At the end of 5 years she wants to stop depositing and start withdrawing an equal amount at the end of each month for the next 4 years. The investment earns 6.0% compounded monthly. a. How much did Sophie have accumulated in five years? Round to the nearest cent E Activate Window SAVE PROGRESS SUBMIT ASS a. How much did Sophie have accumulated in five...
A man deposits 20 millions at the end of each month in an account that earns 8 per cent compounded …..
a) A man deposits 20 millions at the end of each month in an account that earns 8 per cent compounded monthly. How long will it take until this man has 6 billions vnd to buy his own apartment? b) Assume that he only can distribute to this account at the end of each month for the first 5 years and then stop depositing. Of course the account still earns 8 per cent compounded monthly. Including the first 5 years, how...
How much should you deposit at the end of each month into an investment account that...
How much should you deposit at the end of each month into an investment account that pays 6% compounded monthly to have $3 million when you retire in 40 years? How much of the $3 million comes from interest? In order to have $3 million in 40 years, you should deposit how much each month? ___ round to the nearest dollar. $___ of the $3 million comes from interest. use the answer from part a to find this answer round...
Lauren plans to deposit $3000 into a bank account at the beginning of next month and...
Lauren plans to deposit $3000 into a bank account at the beginning of next month and $175/month into the same account at the end of that month and at the end of each subsequent month for the next 4 years. If her bank pays interest at a rate of 7%/year compounded monthly, how much will Lauren have in her account at the end of 4 years? (Assume she makes no withdrawals during the 4-year period. Round your answer to the...
Lauren plans to deposit $3000 into a bank account at the beginning of next month and...
Lauren plans to deposit $3000 into a bank account at the beginning of next month and $175/month into the same account at the end of that month and at the end of each subsequent month for the next 4 years. If her bank pays interest at a rate of 7%/year compounded monthly, how much will Lauren have in her account at the end of 4 years? (Assume she makes no withdrawals during the 4-year period. Round your answer to the...
Functions 1. You are presented with two investment strategies for the next ten years. In strategy A, you deposit $300 into an account at the end of each month for the next four years, then allow the...
Functions 1. You are presented with two investment strategies for the next ten years. In strategy A, you deposit $300 into an account at the end of each month for the next four years, then allow the account to accumu- late interest for the remaining six years. In strategy B, you do nothing for five years and then deposit $300 at the start of each month for the remaining five years. In both cases, interest is paid at the rate...
Suppose an individual makes an initial investment of $1,400 in an account that earns 8.4%, compounded...
Suppose an individual makes an initial investment of $1,400 in an account that earns 8.4%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in the account...
Suppose an individual makes an initial investment of $2,400 in an account that earns 7.2%, compounded...
Suppose an individual makes an initial investment of $2,400 in an account that earns 7.2%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in the account...
Lauren plans to deposit $4000 into a bank account at the beginning of next month and...
Lauren plans to deposit $4000 into a bank account at the beginning of next month and $225/month into the same account at the end of that month and at the end of each subsequent month for the next 7 years. If her bank pays interest at a rate of 6%/year compounded monthly, how much will Lauren have in her account at the end of 7 years? (Assume she makes no withdrawals during the 7-year period. Round your answer to the...
V poms Suppose an individual makes an initial investment of $2,600 in an account that earns...
V poms Suppose an individual makes an initial investment of $2,600 in an account that earns 6.6%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in...
Sophie wants to deposit $440 at the end of each month into an investment account. At the end of 5 years she wants to stop depositing and start withdrawing an equal amount at the end of each month for the next 4 years. The investment earns 6.0% compounded monthly. a. How much did Sophie have accumulated in five years? Round to the nearest cent E Activate Window SAVE PROGRESS SUBMIT ASS a. How much did Sophie have accumulated in five...
Functions 1. You are presented with two investment strategies for the next ten years. In strategy A, you deposit $300 into an account at the end of each month for the next four years, then allow the account to accumu- late interest for the remaining six years. In strategy B, you do nothing for five years and then deposit $300 at the start of each month for the remaining five years. In both cases, interest is paid at the rate...
Suppose an individual makes an initial investment of $1,400 in an account that earns 8.4%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in the account...
Suppose an individual makes an initial investment of $2,400 in an account that earns 7.2%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in the account...
V poms Suppose an individual makes an initial investment of $2,600 in an account that earns 6.6%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in...
Most questions answered within 3 hours.
-
Cranium, Inc., purchases term papers from an overseas supplier
under a continuous review system. The average...
asked 1 hour ago -
1- What is the freezing point of pure water (in degrees
Celsius)?
2-
he molar mass...
asked 1 hour ago -
Determine the direction of the force that will act on the charge
in each of the...
asked 2 hours ago -
You purchase your daily coffee at the Chemist’s Coffeehouse and
have a choice of two cups:...
asked 4 hours ago -
Which of the following pairs of chemicals could be used to make
a buffer solution?
A.)...
asked 4 hours ago -
Problem 16-51 Sales
Activity Variance (LO 16-3)Odessa, Inc., reports the following
information concerning operations for the...
asked 5 hours ago -
Pictured on the right are thee point charges Q1 = 18.4 μC, Q2 =
-30.6 μC,...
asked 5 hours ago -
A graduate student is conducting research in psychology and
needs to obtain the IQ scores of...
asked 5 hours ago -
R2.84: There are 2 defective products in a production lot of 10.
An inspector randomly selected...
asked 7 hours ago -
Consider the following equilibrium system: COCl2(g) CO(g) +
Cl2(g) A 10.00 L evacuated flask is filled...
asked 7 hours ago -
1) What are the two distinct steps that one needs to perform
when developing a data...
asked 7 hours ago -
2) Write a C++ program that uses a class called “Degree” to
obtain the trigonometric
values...
asked 8 hours ago